cgv not affected by plant closure

As I was saying previously, CGV would not be affected by CXY's plant closure.

Nice announcement just out by CGV which explains there positon globally regarding UCG.

They make a good point regarding their technology and major corporations willing to team up with them.

Some investors should take this company more seriously imo!

You might just make a whole lot of money in the future!

ASX ANNOUNCEMENT

CLEAN GLOBAL ENERGY NOT AFFECTED BY QLD
GOVERNMENT’S DECISION TO KEEP COUGAR PLANT CLOSED

January 28, 2011: Clean Global Energy (CGE) is aware of today’s decision by the
QLD Government to disallow Cougar Energy’s UCG trial pilot plant to reopen.
CGE Chair and CEO, Mr John Harkins, said CGE’s Linear CRIP UCG technology
was vastly different, and greatly advanced over the technology adopted by Cougar
Energy at its Kingaroy plant.
“Our Technical Director, Dr. Michael Green, led the successful European Union
trials in Spain on which our technology is based. Most importantly, those trials fully
met stringent European environmental laws, ” Mr Harkins said.
“We are currently focussed on overseas projects in India, China and the United
States where the underground coal gasification process and UCG Syngas product
is more clearly understood by both government and major corporations, who are
encouraging CGE to bring our technology and expertise to those markets.”
“As we announced only last month, CGE has expanded into the US market in a
substantial way, with the early stages of project development now underway to
build and operate a commercial UCG Syngas plant in Oklahoma, in partnership
with US energy multinational, the AES Corporation.”
“This is a clear signal to the global market that major corporations such as AES
believe that CGE demonstrates a significant technical capability, and that we are
leaders in global commercial developments in underground coal gasification.”
“CGE is of the view that this decision by the QLD Government on Cougar’s plant,
does not in any way impact CGE’s plans to progress the development of our QLDbased
coal tenements into income-producing assets in the medium to longer term.”
“Our shareholders know and appreciate we are in the UCG Syngas business for
the long haul, both in Australia and overseas, which will result in significant
revenue to CGE and shareholder value to its investors”, Mr Harkins said.